BioMarin Pharmaceutical (NASDAQ:BMRN) EVP Sells $176,681.85 in Stock

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) EVP Gregory Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded down $1.48 during mid-day trading on Monday, reaching $52.58. The company had a trading volume of 2,466,404 shares, compared to its average volume of 2,043,568. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 0.40 and a beta of 0.23. The company’s 50-day moving average price is $56.06 and its 200-day moving average price is $56.33. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $66.28.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMRN. Piper Sandler lowered their price target on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Sanford C. Bernstein lowered their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Bank of America lowered their target price on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. Activest Wealth Management purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $26,000. Quent Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $28,000. CIBC Private Wealth Group LLC grew its position in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $40,000. Institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.